Within the last 15 years, there has been a tremendous amount of advancements for the retail industry to improve the shopping experience. These trends are mostly due technology. Technology has allowed brands the ability to effectively target and reach consumers on a more personal level. Brands that utilize strategic capabilities to sell effectively online-to-offline have created simple and speedy ways for consumers to locate and purchase products. If your brand is not one of them, have no fear we have compiled a list of the most effective strategies to take your brand to the next level.
Strategies to transform the consumer experience:
We live in a multi-device world, and if you're still focused on improving your brand’s visibility, traffic, and conversions on the desktop, your brand is missing the mark to capture potential new leads throughout the channel.
As consumers shop across multiple channels and devices from online and in-store to mobile apps and on social media, it is crucial for brands and retailers to have every product interaction be as consistent and seamless as possible.
A great example of a brand being able to utilize multi-channel device attribution as a way to drive consumer growth and ensure all purchasing channels work in real-time is REI. At REI, the the focus is on the company’s ability to offer consumers up-to-date and accurate product information throughout all channels.
REI engages consumers with data insight into consumer reviews, suggested products, marketplaces for used gear, rentals, trips, pickup in-store, and free shipping for some products. REI has essentially created a product haven for outdoor enthusiasts, making it possible for consumers to have orders in-hand as soon as possible.
By applying this strategy of utilizing multi-channels to connect with your audience, your brand can sell products more personably. This helps strengthen the brand experience and retain the consumer for repeat purchases. Creating experiences is key to growth in today’s retail landscape.
Data Tracking and Analytics
Brands seeking a more omnipresent view should look into the ability to track the target audience throughout all channel and interactions. By understanding the journey, your brand can utilize which touchpoints in your operation need improvement. Companies such as Netflix and Amazon recognized that success comes from understanding your consumer. These companies began tracking consumer habits and purchasing trends as early as the 1990s in order to better understand what products consumers want and need.
Keep in mind when looking for a solution that can ultimately improve your brand, that it is important to understand data such as average cart abandonment rates, conversion quotas, activation rates and support response times. Knowing and understanding these areas will augment the way your brand sells across all channels.
Data tracking will require more investment, but does not necessarily need to break the bank. Solutions such as subscription-based analytics and web analytics services can help track and report website traffic and consequently help your brand to better understand consumer habits and purchasing trends.
These insights can be used to ensure products are available in all desired currencies, items are easily found, and cart checkout is a simple and seamless process that allows for repeat visits.
By utilizing data, your brand can effectively offer consumers an experience as personal and unique as possible, otherwise known as hyper-personalization.
Hyper-personalization is being able to individualize your message to target your desired audience, while maximizing your channels and digital capabilities.
A great example of a brand cultivating hyper-personalization is Target. Every shopper in Target’s system is assigned a Guest ID upon first interaction with the brand. That ID is used to store the consumer’s demographic information and buying behavior. By doing so, Target is able to predict what products may interest the consumer based on shopping habits and history.
To take purchasing another step further, Target also offers consumers the option to buy online pickup in-store or ship-to-home, and offer seamless delivery options for returns. Consumers can either ship unwanted items back, or return items in-store. Both give the consumer a choice as to how orders are received and returned.
As the retail industry continues to mold itself to the evolving desires of the consumer, brands who refuse to keep moving forward will subsequently be left behind. By taking advantage of innovative technology, your brand will be able to offer consumers a better and more personalized shopping experience.
Increasing consumer satisfaction by appealing to the growing needs of the consumer is proven to drive more traffic to all commerce channels and boost your brand’s bottom-line. By unifying your channels, your brand will be able to provide an omnipresent, shopping environment across all devices that appeals to the masses.